industrialization quiz Flashcards
(9 cards)
Factors of Production
land, economy, labor, stability
urbanization
building + movement of cities
impact on social classes
- gap between lower + upper class grew
- old middle class became new upper class due to businesses and growing production
- old upper class losing power due to old methods of obtaining money + power
- lower class is worse off; are paid, but are forced to work in factories, standard of living for them was EXTREMELY LOW
standard of living throughout classes
got better for middle class; a lot worse for lower class, worse for old upper class
lower class : caused prominent short-term effects for economy and social structure
- sanitation and disease -> factories + workings areas were unsanitary, causing diseases, child + female labor, terrible working conditions
New middle class:
- were able to become businessmen + jump social positions
- adapted to distinct behaviors, had lush homes, separated from other classes
Old upper class:
- influence decreased bc of rising middle class
- previous fortune was amassed through inheritance, middle class obtained through trade + factories
unionization
- strikes - refused to work
factory act: made child labor for children under 9 illegal
mines act: kept women + children from working underground
ten hours act: limited women + kids’ workdays to 10 hrs per day
slavery was abolished official in GB
women were both worse + better off
Laissez-Faire Captialism
economic theory
business owners set working conditions w/o interference from gvnt
gvnt never interfered w economy
private ownership -> competition
invisible hand: if ppl followed own interests, world would be orderly + progressive; social harmony would occur w/o any gvnt direction, as if by the force of an invisible hand
theorists: adam smith, thomas malthus, David ricardo
Utilitarianism
political theory
gvnt works to create greatest amount of good for greatest amount of people (eg. minimum wage)
stopped unfair laws (child labor, etc)
actions should be judged based on usefulness
theorists: Jeremy Bentham, John Stuart Mill, Robert Owen
Socialism
economic theory
factors of production are owned by the public + benefits the people
gvnt should control economy/planet
change occurs through voting
radical socialism: Marxism -> the communist manifesto
theorists: Charles Foureir, Karl Marx (communism), Louis Blanc, Alexis de Toqueville
Communism
political theory
purely a theory + predictions/predicted lower proletariat would revolt against Bourgeoisie
government would cease to exist, all means of production owned by the people - no private property
theorists: Karl Marx